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NNPC records $120.49m crude oil receipts in Sept

The Nigerian National Petroleum Corporation (NNPC) has announced a total export receipt for crude oil and gas valued at $120.49 million for the month of September 2020.
This was contained in a statement release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru, on Sunday in Abuja,
According to the Corporation, the figure, which was in the September 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR), stated that the $120.49 million crude oil and gas export receipt is a 16.28 per cent improvement on the $100.88 million posted in August 2020.
The report showed that out of the figure, proceeds from crude oil amounted to $85.40 million while gas and miscellaneous receipts stood at $25.31 million and $9.78 million respectively.
The September 2020 MFOR also indicated a trading surplus of ₦28.38 billion slightly lower than the ₦29.60 billion surplus in August 2020.
The marginal reduction in surplus, according to the report, was as a result of lower contribution from the Company which recorded zero crude oil lifting from the Okono Okpoho facility during the month due to ongoing repairs.
However, the statement maintained that other NNPC subsidiaries, namely the Integrated Data Services Limited (IDSL), National Engineering and Technical Company Limited (NETCO), Nigerian Gas Marketing Company (NGMC), Petroleum Products Marketing Company (PPMC) and NNPC Retail, posted impressive trading results recording 268%, 234%, 21%, 422% and 41% trading surpluses respectively over their previous month’s performance.

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